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Daily News

February 19, 2021

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politics

    CHANGES IN GEORGIAN CABINET

    Irakli Garibashvili, nominee for the post of Prime Minister of Georgia, announced today new composition of the Cabinet.

    To remind, Giorgi Gakharia resigned from the post of Prime Minister on February 18, after which the ruling Georgian Dream nominated Garibashvili for the post.


economics

    IN Q4 2020, GEORGIA’S UNEMPLOYMENT RATE MADE UP 20.4%

    Sakstat released estimation, according to which Georgia’s unemployment rate in the 4th quarter of 2020 made up 20.4%. If compared with the same period of 2019, the rate has increased by 3.8 percentage points (pp).


    “COLLIERS INTERNATIONAL GEORGIA”: IN 2020, VACANCY RATE INCREASED IN BUSINESS CENTERS OF ALL CLASSES

    In 2020, the vacancy rate increased in Georgia’s business centers of all classes, especially in A-class and unclassified business centers, Colliers International Georgia reported.

    The highest vacancy rate is still in A-class business centers, making up 47% (year-on-year growth – 22 percentage points (pp)) at the end of 2020.


    IN 2020, GEORGIA’S OIL EXTRACTION DECREASED BY 8.1%

    Georgian Oil and Gas Corporation reported that 29,400 t of commercial oil was extracted in Georgia in 2020. If compared with 2019, the volume has decreased by 8.1%.


    IN 2020, GEORGIA’S GAS EXTRACTION DECREASED BY 9.1%

    Georgian Oil and Gas Corporation reported that 9 million cubic m of commercial gas was extracted in Georgia in 2020. If compared with 2019, the volume has decreased by 9.1%.


business

    IN 2020, OUTPUT OF “GARDABANI-1” AND “GARDABANI-2” THERMAL POWER PLANTS INCREASED BY 46%

    Georgian Oil and Gas Corporation reported that output of its thermal power plants Gardabani-1 and Gardabani-2 totaled in 2020 to 1.9 million MWh. If compared with 2019, the volume has increased by 46%.


    IN 2020, MICROFINANCE ORGANIZATIONS DECREASED IN NUMBER BY 8, NUMBER OF THEIR BRANCHES AND SERVICE CENTERS INCREASED BY 10

    National Bank of Georgia reported that at the end of 2020, Georgian microfinance organizations had run 393 branches and service centers.

    In the reporting year, number of branches and service centers has increased by 10, while number of microfinance organizations themselves decreased by 8 to 40.


    NBG REVOKED LICENSE OF BROKERAGE AND ASSET MANAGEMENT COMPANY “WEALTHY”

    By the order of the president of National Bank of Georgia (NBG), brokerage license of JSC Brokerage and Asset Management Company “Wealthy” has been revoked.

    NBG explained that study of the company’s activities revealed violations of legislation on securities and instructions of NBG.


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